Explain Inventory valuation under Ind As 2. Calculate the value of closing stock and the cost of goods sold by following FIFO and Weightage Average Cost method for the Delta company. The company produced and sold 1400 units of inventory in the given period. The opening stock balance and the purchases made by the company during the month of July are given below: Date Description Unit Unit Cost Total Cost July 01 Beginning Inventory 500 Rs 20 p.u. Rs 10,000 July 18 Units purchased 600 Rs 24 p.u. Rs 19,200 July 25 Units purchased 700 Rs 26 p.u. Rs 18,200